AMD: Hit a MAJOR RESISTANCE! What's next?
• AMD is in a very strong bull trend, since it broke the $62 area, triggering an Ascending Triangle chart pattern;
• Now, AMD is in a resistance area, as seen in the weekly chart (blue area);
• This resistance area is a key point where AMD found support level multiple times in the past, and now, it is near the 21 ema as well;
• If AMD does any weakness sign in this area, it might correct again (there's no clear top sign yet, but one might occur soon);
• However, as long as it stays above the $62, the bullish bias would persist, meaning, any pullback would be anoher opportunity to buy, despite any possible short-term pullback in the next few days;
• The situation is critical on AMD, so it is very important to keep our eyes open in this area.
Remember to follow me to keep in touch with my analyses!
• Now, AMD is in a resistance area, as seen in the weekly chart (blue area);
• This resistance area is a key point where AMD found support level multiple times in the past, and now, it is near the 21 ema as well;
• If AMD does any weakness sign in this area, it might correct again (there's no clear top sign yet, but one might occur soon);
• However, as long as it stays above the $62, the bullish bias would persist, meaning, any pullback would be anoher opportunity to buy, despite any possible short-term pullback in the next few days;
• The situation is critical on AMD, so it is very important to keep our eyes open in this area.
Remember to follow me to keep in touch with my analyses!
Feragatname
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